Difficult to be absolute Stock_Doctor with regard to being oversold ... as technically the SP reflects the market sentiment on exploration opportunities as opposed to current revenue ... however ... the following represents the net worth per share minus recovery costs of the three projects coming up :
Muggles - $0.755
Lake Long - $0.978
Eagle - $1.23
I would expect the SP to rally substantially when Lake Long and Muggles are both spudded ... which is now 4 weeks away ... so as with all exploration companies this is always going to be a gamble ... but the potential returns look extremely good to me and think that todays drop is an overeation to the China program which at the end of the day represented the smallest potential returns of the 2004 drilling program.
Blackspot
oversold?, page-2
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Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
|---|---|---|
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